Brightcove (NASDAQ:BCOV) Stock Rating Lowered by Zacks Investment Research


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Brightcove (NASDAQ:BCOV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Brightcove Inc. is engaged in providing cloud content services for publishing and distributing professional digital media. Its products include Brightcove Video Cloud, an online video platform and Brightcove App Cloud, a software application development and management platform. The Company provides its solutions to media, retail, technology, financial services companies, governments, educational institutions, and non-profit organizations in North America, Europe, and the Asia Pacific. Brightcove Inc. is headquartered in Cambridge, Massachusetts. “

Several other research firms have also commented on BCOV. Northland Securities reaffirmed a “buy” rating on shares of Brightcove in a research note on Thursday, March 11th. Lake Street Capital lifted their target price on Brightcove from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. Finally, B. Riley restated a “buy” rating and issued a $22.00 price objective on shares of Brightcove in a report on Friday, January 29th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.20.

NASDAQ BCOV traded down $0.66 on Tuesday, hitting $14.23. 641,863 shares of the stock were exchanged, compared to its average volume of 385,901. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average price of $20.53 and a two-hundred day moving average price of $18.07. The firm has a market capitalization of $574.17 million, a P/E ratio of -38.46, a P/E/G ratio of 10.13 and a beta of 0.91. Brightcove has a 52-week low of $7.43 and a 52-week high of $25.26.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Tuesday, April 27th. The software maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $54.80 million during the quarter, compared to analyst estimates of $53.46 million. Brightcove had a negative net margin of 7.61% and a negative return on equity of 0.21%. Brightcove’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. Sell-side analysts expect that Brightcove will post 0.07 earnings per share for the current fiscal year.

In other Brightcove news, Director Tsedal Neeley purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 12th. The shares were acquired at an average price of $22.11 per share, for a total transaction of $44,220.00. Also, insider David Plotkin sold 27,027 shares of the business’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $20.67, for a total value of $558,648.09. Following the sale, the insider now owns 134,834 shares in the company, valued at approximately $2,787,018.78. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in Brightcove in the fourth quarter valued at approximately $2,385,000. King Luther Capital Management Corp boosted its position in Brightcove by 10.0% in the fourth quarter. King Luther Capital Management Corp now owns 203,768 shares of the software maker’s stock valued at $3,749,000 after buying an additional 18,500 shares during the last quarter. Advisory Research Inc. purchased a new stake in Brightcove in the fourth quarter valued at approximately $313,000. Aperio Group LLC boosted its position in Brightcove by 22.6% in the fourth quarter. Aperio Group LLC now owns 15,851 shares of the software maker’s stock valued at $292,000 after buying an additional 2,927 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Brightcove in the fourth quarter valued at approximately $392,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based services for video. Its flagship product includes Video Cloud, an online video platform that enables its customers to publish and distribute video to Internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences on mobile, web, and smart and connected TVs; Brightcove Player, a video player technology with a cloud-based service for creating and managing video player experiences; and Zencoder, a cloud-based video encoding service.

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